Moderna said last week that it had completed enrolling patients in a phase II study of the vaccine candidate, mRNA-1273.
Moderna is one of hundreds of companies looking for an effective vaccine. In May, the Cambridge, Massachusetts-based company said the results of its phase I study were positive.
The tripling of the stock to date has led analysts to disagree on “what will happen or whether the vaccine will work, and [analysts are] enormously divided on the valuation, “said Yee, according to Bloomberg.”We think the street will be surprised on the upside if the Covid-19 vaccine works, is approved by the start of 2021, and there are billions of dollars in purchase orders from … all over the world.” “Moderna said last week that it is on track to deliver 500 million doses a year, and possibly up to 1 billion doses a year, by 2021.
Yee expects mRNA-1273 to obtain “at least” emergency use authorization early next year.
According to the World Health Organization, more than 20 candidate vaccines are in human testing and 130 others are in the early stages of development.
Moderna shares recently traded at $ 72.82, up 16.33%.
Moderna is expected to join the Nasdaq 100 index before the market opens on July 20.
